topic Mortgage interest not applying in Deductions & credits

Mortgage interest not applying

Sarah310 — Mon, 20 Jan 2025 00:55:26 GMT

I’m working on my 2024 taxes and I am entering my form 1098. I paid about $10,200 in mortgage interest and $2500 in property taxes. It’s my primary home. I entered everything carefully and correctly and I even deleted and re-entered but it’s not giving me anything back for it. Something seems wrong.

Re: Mortgage interest not applying

Bsch4477 — Mon, 20 Jan 2025 01:02:55 GMT

You won’t get any benefit if your standard deduction is greater than your itemized deductions.

Re: Mortgage interest not applying

rjs — Mon, 20 Jan 2025 02:25:04 GMT

Total deductions of $12,700 is less than your standard deduction unless someone can claim you as a dependent.